Emergent Biosolutions Inc Stock Price, News & Analysis

Emergent BioSolutions (NYSE: EBS), a public health company focused on protective and life-saving solutions, has announced its participation in the 43rd Annual J.P. Morgan Healthcare Conference. Joe C. Papa, the company's president and CEO, will deliver a presentation on Wednesday, January 15, 2025, at 1:30 PM PST.

The presentation will be accessible through an audio link, which will remain available for 30 days following the event. Additionally, the presentation slides will be published in the Investors section of Emergent's website coinciding with the presentation time.

Emergent BioSolutions (NYSE: EBS) announced a $20 million contract option exercise from the U.S. Department of Defense (DoD) for supplying BioThrax® (Anthrax Vaccine Adsorbed). The first delivery, valued at approximately $7 million, began in December 2024, with remaining deliveries scheduled for 2025.

The option is part of an existing indefinite-delivery, indefinite-quantity (IDIQ) procurement contract with the DoD, providing BioThrax® for pre-exposure prophylaxis across all U.S. military branches. This follows a recent $50 million contract option from BARDA for CYFENDUS® procurement announced on December 16, 2024.

The company's anthrax franchise includes four products: BioThrax®, CYFENDUS®, and two treatments - Anthrasil® and raxibacumab.

Emergent BioSolutions (NYSE: EBS) has received a $50 million contract option from BARDA for its CYFENDUS® anthrax vaccine. The deliveries are scheduled between now and April 2025. This follows a previous $30 million contract modification for the same vaccine. CYFENDUS®, FDA-approved in July 2023, is a two-dose anthrax vaccine for post-exposure prophylaxis in individuals aged 18-65.

The contract strengthens national anthrax preparedness against potential bioterrorist incidents, as anthrax is classified as a Tier 1 biological select agent. Emergent's anthrax portfolio also includes BioThrax® vaccine and two treatments: Anthrasil® and raxibacumab.

Emergent BioSolutions (NYSE: EBS) announced that its antiviral drug brincidofovir (TEMBEXA®) will be included in a clinical trial led by Africa CDC as part of the 'MpOx Study in Africa' (MOSA). The randomized double-blind placebo-controlled trial will evaluate the safety and efficacy of brincidofovir in treating mpox virus. Currently, there are no FDA-approved therapeutics for treating patients with mpox who are at risk of severe complications. While brincidofovir can be used for mpox in the U.S. under emergency Investigational New Drug protocol, this will be its first randomized controlled study for mpox treatment.

Emergent BioSolutions (EBS) reported strong Q3 2024 financial results with total revenues of $293.8 million, up 9% year-over-year. Net income reached $114.8 million, a 144% increase, while Adjusted EBITDA grew 432% to $105.3 million. The company secured significant financing through a $250 million Term Loan and $100 million asset-backed facility. Notable transactions included the $75 million sale of RSDL®, $35 million from Baltimore-Camden site sale, and receipt of $50 million from Janssen dispute resolution. Based on strong performance, EBS raised its FY 2024 guidance, projecting revenues of $1,065-$1,125 million.

Emergent BioSolutions (NYSE: EBS) has appointed Dr. Simon Lowry as Chief Medical Officer and Head of Research and Development, effective November 18. Dr. Lowry brings over 25 years of experience in healthcare and pharmaceuticals, most recently serving as CEO of Mysthera Therapeutics AG. He will oversee research and development, regulatory affairs, medical affairs, clinical and biostatistics, and patient safety. Additionally, Jessica Perl has been promoted to General Counsel and Corporate Secretary after serving in the interim role since August.

Emergent BioSolutions (NYSE: EBS) has scheduled its third quarter 2024 financial results conference call for November 6, 2024, at 5:00 pm eastern time. The call will cover Q3 financial performance, recent business developments, and the company's financial outlook for full year 2024. Participants can join via webcast or telephone, with dial-in numbers provided for both U.S./New York (+1-646-968-2525) and U.S. & Canada toll-free (+1-888-596-4144). A replay will be available on the company's Investors webpage.

Emergent BioSolutions (NYSE: EBS) reaffirms its commitment to combating the opioid epidemic by expanding access to NARCAN® Nasal Spray and educating the public on opioid overdose response. The company is supporting the 'White House Challenge to Save Lives from Overdose' by implementing workplace safety measures and continuing its Ready to Rescue public awareness campaign.

Emergent has installed opioid emergency wall units in its facilities and provided NARCAN® Nasal Spray to employees. The company is also working with partners like the National Safety Council to educate businesses. Since NARCAN® Nasal Spray became available over the counter in August 2023, Emergent has distributed over 2,700 opioid emergency kits on college campuses and in public venues.

In response to recent CDC data showing a decline in opioid overdose deaths, Emergent is pledging to donate an additional 20,000 doses of NARCAN® Nasal Spray to communities in need. The company remains committed to expanding access and awareness through OTC availability, partnerships, and education initiatives.

Emergent BioSolutions Inc. (NYSE: EBS) has announced the closing of a new $100 million asset-backed loan facility (ABL) on September 30, 2024. The credit agreement, with Wells Fargo Bank as the administrative agent, provides revolving loan commitments with a maturity date of September 30, 2029, subject to early maturity triggers. This new facility adds to Emergent's liquidity, supporting its multi-year transformation plan. As of September 30, 2024, Emergent had a cash balance of approximately $150 million and undrawn access to the full $100 million ABL.

Joe Papa, president and CEO of Emergent, stated that the new ABL credit facility with favorable terms and extended maturity demonstrates the company's strengthened balance sheet and financial position. This agreement follows Emergent's recent refinancing of its debt, including a new credit facility agreement with Oak Hill Advisors for a term loan of up to $250 million announced on September 3, 2024.